Investment banking boomed in the region during the second quarter of this year.
Share issues raised $4 billion during the period, four times as much as the first quarter, according to a report by a financial intelligence group
Strong merger and acquisition (M&A) activity during the second quarter took the total value of deals to $14.3bn by the first half of 2012, an increase of 137 per cent over the same period in 2011.
"Financials is the most targeted industry in the Middle East M&A activity with $4.3bn or 30pc of the activity so far this year, followed closely by telecoms with 29pc," said Thomson Reuters Middle East and North Africa managing director Russell Haworth.
Egypt is the most active Middle Eastern country, based on target, with $4bn for 28pc of first half activity.
Middle Eastern debt issuance reached $6bn during the second quarter of 2012, a 45pc decline from the strong first quarter total of $10.9bn.
It took first half 2012 activity to $16.9bn, up 51pc on the same period in 2011.
Islamic debt issuance reached $14.5bn from 34 issues, an increase of 25pc from the same period in 2011, and the strongest first six month total since 2008.
The top Islamic issuer nation during the first half of 2012 was Malaysia with 45pc of the activity, while the strongest industry was the financials sector.
Middle Eastern syndicated lending during the first half was $186.8m, a 98pc decrease from the same period in 2011, and the slowest first half in more than a decade.
Investment banking fees reached $234.8m during the first half of 2012, a 5pc increase from the first six months of M&A fees and totalled $59m, accounting for 25pc of the overall fee pool.
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